Project uncertainty prompts $10m asset write-off

Ambre Energy has written-off more than $10 million in assets as uncertainty continues over the future of a project on Queensland's Darling Downs.

The State Government has previously said it will not allow the construction of an open cut coals-to-fuels facility at Felton south of Toowoomba.

In its annual report Ambre says it has suspended major work at Felton and has written-off some assets.

The company says it is yet to decide on the project's future and that it depends on a new regulatory scheme to be announced by the State Government.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    0.9327-0.0005-0.05%
    AUDUSD=X
    0.5555-0.0003-0.05%
    AUDGBP=X
    0.6753-0.0003-0.05%
    AUDEUR=X
  • Commodities
    Commodities
    NamePriceChange% Chg